HKEX to Expand Middle East Presence with Riyadh Office

The company said the strategic move aims to strengthen HKEX’s presence in the Middle East and facilitate greater connectivity between the two regions.

HKEX is aiming to promote new opportunities for its customers and issuers, with the Riyadh office predicted to serve as a crucial hub for HKEX to engage with investors and companies.

Saudi Arabia is currently undergoing an economic transformation as it aims to diversify outside of the oil sector.

By providing on-the-ground support, HKEX aims to help Middle Eastern investors access Hong Kong’s diverse financial products and capital markets.

Bonnie Y Chan, CEO of HKEX, said the new office “underscores our strategic commitment to promoting greater capital market connections between China and the Middle East.”

Chan added: “As investment ties between the Middle East and Asia grow stronger, Hong Kong and HKEX’s roles in connecting capital and opportunities between these regions have become more important than ever.”

HKEX has been actively fostering collaboration with the Middle East, as evidenced by various initiatives such as signing a Memorandum of Understanding with the Saudi Tadawul Group and adding several Middle Eastern exchanges to its list of Recognised Stock Exchanges.

The recent listing of two ETFs tracking Hong Kong-listed equities on the Saudi Exchange marks a noteworthy milestone in the growing capital market connectivity between the two regions.